Worldcoin (WLD), a popular cryptocurrency, experienced a significant surge in its price on July 17 following a major announcement about an extended lock-up period for investors and team members. The price of Worldcoin reached $3.06, representing a 39.2% increase in the past 24 hours. Over the course of the last week alone, the token’s price has grown by an impressive 62.4%. The trading volume for Worldcoin in the last 24 hours was $1.320.059.386, indicating a substantial 184.30% increase compared to the previous day and signaling a recent surge in market activity.
The announcement revealed that starting from July 24, 2024, the WLD tokens allocated to Tools for Humanity (TFH) investors and team members, who were early contributors to the Worldcoin project, will gradually unlock on a daily basis. This decision was made in line with Worldcoin’s long-term mission. Previously, TFH investors and team members received locked WLD tokens for their contributions since the company’s establishment in 2019. However, as of July 24, 2024, these tokens will begin to unlock and enter the circulating supply of WLD. This week, TFH announced a modification to the unlock schedule for WLD tokens from its early contributors.
Approximately 80% of the WLD tokens from TFH investors and team members will now have their unlock schedule extended from three to five years. However, the unlock schedule for the first year remains unchanged. With this adjustment, 80% of the affected TFH tokens will unlock gradually over the next four years, on a daily and linear basis. The unlocking process for most of these tokens will be completed by the end of July 2028, five years after the protocol launch, according to the TFH statement.
It is important to note that the recent changes in the lock-up period do not affect WLD exchanges for verified World ID holders.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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